The BSE Sensex turned positive on Wednesday after earlier falling as much as 2.9 percent led by gains in software services exporters such as Tata Consultancy Services, while banks recovered from earlier falls on value buying.
Life Insurance Corporation was also spotted buying Indian shares on Wednesday.
Tata Consultancy Services Ltd gained 3.3 percent while HDFC Bank Ltd rose 0.1 percent after earlier falling as much as 5.9 percent.
The benchmark BSE Sensex was trading up more than 100 points while the broader Nifty rose over 20 points at 15.04 IST.
RUPEE
The rupee once again weakened against the dollar in today due to month-end dollar demand, said currency dealers.
At 2:20PM, the rupee was trading at Rs 67.98 per dollar compared to Tuesday's close of 66.24/25 on the Interbank Foreign Exchange. The currency touched an all-time low of Rs 68.75 in early trades.
The previous all-time low was Rs 66.19 per dollar, a level the rupee had ended on yesterday. The currency has fallen more than 8% so far this week.
GLOBAL MARKETS
Asian stocks fell while Brent crude surged to over 2-year high on brewing tensions between Syria and US.
Japan’s Nikkei fell 1.5% to 13,338, Singapore’s Straits Times fell 1% to 3,002, China’s Shanghai Composite index was down 0.1% at 2,101 while Hong Kong’s Hang Seng fell 1.6 % to 21,52 4 today.
European markets also opened lower. France’s CAC was tad up 0.1% to 3,973, Germany’s DAX shed 0.4% to 8,204 while UK’s FTSE was down 0.3% to 6,422.
STOCK MOVERS
Domestically, barring IT and metal index, rest all declined with banks, realty, capital goods, oil & gas, PSU leading the drop on the BSE.
The gainers included counters such as Tata Power rising 3.4%, Wipro and TCS gained 3.2% each, Jindal Steel gained 3% while Hindalco Industries was up 1.9% on the BSE.
The laggards were ONGC declined 7.8%, HDFC shed 7%, GAIL fell over 4% while Bharti Airtel declined 2.8% on the BSE.
The key notable movers included counters such as ITC has moved higher by 2% at Rs 303, bouncing back over 6% from intra-day low, after the board of diversified company fixes a merger ratio.
Strides Arcolab is trading higher 4% at Rs 863 on reports that the Foreign Investment Promotion Board (FIPB) has cleared the long-pending $1.8-billion investment proposal by US generic drug maker Mylan Inc, to acquire Strides Arcolab’s injectible unit, Agila Specialities.
Life Insurance Corporation was also spotted buying Indian shares on Wednesday.
Tata Consultancy Services Ltd gained 3.3 percent while HDFC Bank Ltd rose 0.1 percent after earlier falling as much as 5.9 percent.
The benchmark BSE Sensex was trading up more than 100 points while the broader Nifty rose over 20 points at 15.04 IST.
RUPEE
The rupee once again weakened against the dollar in today due to month-end dollar demand, said currency dealers.
At 2:20PM, the rupee was trading at Rs 67.98 per dollar compared to Tuesday's close of 66.24/25 on the Interbank Foreign Exchange. The currency touched an all-time low of Rs 68.75 in early trades.
The previous all-time low was Rs 66.19 per dollar, a level the rupee had ended on yesterday. The currency has fallen more than 8% so far this week.
GLOBAL MARKETS
Asian stocks fell while Brent crude surged to over 2-year high on brewing tensions between Syria and US.
Japan’s Nikkei fell 1.5% to 13,338, Singapore’s Straits Times fell 1% to 3,002, China’s Shanghai Composite index was down 0.1% at 2,101 while Hong Kong’s Hang Seng fell 1.6 % to 21,52 4 today.
European markets also opened lower. France’s CAC was tad up 0.1% to 3,973, Germany’s DAX shed 0.4% to 8,204 while UK’s FTSE was down 0.3% to 6,422.
STOCK MOVERS
Domestically, barring IT and metal index, rest all declined with banks, realty, capital goods, oil & gas, PSU leading the drop on the BSE.
The gainers included counters such as Tata Power rising 3.4%, Wipro and TCS gained 3.2% each, Jindal Steel gained 3% while Hindalco Industries was up 1.9% on the BSE.
The laggards were ONGC declined 7.8%, HDFC shed 7%, GAIL fell over 4% while Bharti Airtel declined 2.8% on the BSE.
The key notable movers included counters such as ITC has moved higher by 2% at Rs 303, bouncing back over 6% from intra-day low, after the board of diversified company fixes a merger ratio.
Strides Arcolab is trading higher 4% at Rs 863 on reports that the Foreign Investment Promotion Board (FIPB) has cleared the long-pending $1.8-billion investment proposal by US generic drug maker Mylan Inc, to acquire Strides Arcolab’s injectible unit, Agila Specialities.
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